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Global Operating Room Equipment Market Size, Share, Trends, COVID-19 impact, Growth Analysis Report – Segmented By Type, End-User & Region – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 2399
Pages: 173
Formats: report pdf report excel report power bi report ppt

Global Operating Room Equipment Market Size (2022 to 2027)

The size of the global operating room equipment market is expected to be worth USD 28.33 billion in 2022. This value is estimated to be growing at a CAGR of 3.9% and worth USD 34.31 billion by 2027. The Operating Room Equipment market is showing evident potential in the mentioned forecasting period.

The operating room is a facility where all the operations are performed to treat different pathological and physiological conditions in a sterile environment. Operating rooms are also known as the operating suite or operation theatre. An operating room is prepared with technically advanced equipment that offers enhanced operational efficiency by enabling surgeons and other healthcare professionals with greater flexibility and ease of handling.

MARKET DRIVERS:

An increasing flow of patients to hospitals with various diseases is the primary driver for market growth. The rise in the elderly population is surging the demand of the operating room equipment market to the extent. Growing demand for minimally invasive surgeries is also propelling the growth of the operating room equipment market. The rise in the awareness to maintain hygienic conditions in operation theaters is accelerating the market demand.

The rapid growth of global technological innovation in medical equipment drives the development of the operating room equipment market. The aging population is also one of the key factors that contribute to growth. Among the factors that drive the global market for operating room equipment, there is an increase in the majority population, the increase in the demand for hybrid operating theaters in advanced countries, and modern equipment in the operations. The market is expected to grow by improving medical infrastructure in emerging markets, increasing interest in foreign hospitals' networks, and increasing cooperation with hospitals and foreign investors.

Also, an increase in outpatient surgery centers, an increase in the prevalence of chronic diseases, and an increase in medical costs stimulate the growth of the global market for operating room equipment. An increase in the popularity of minimally invasive procedures due to related benefits, such as lower trauma, shorter hospitalization time, and profitable procedures, contributes to the growth of the global operating room equipment market. We are at the forefront of the operating room equipment market with increased government agencies' investment worldwide.

Growing investments in the healthcare centers by government and non-government organizations are lucrative to prompt growth opportunities for the operating room equipment market. The rise in the priority for convenient and flexible devices while performing surgeries for significant results is likely to outshine the demand of the operating room equipment market.

MARKET RESTRAINTS:

High cost associated with the latest medical device technologies acts as major restraint restraining the market. However, lack of standardization is slowly limiting the demand of the market. The cost for installation and maintenance of the devices is a little high, which is quietly declining the growth rate of the market. Less knowledge over utilizing this equipment in rural areas is challenging for the Operating Room Equipment Market developers.

The existence of alternatives such as the high cost of operating theater equipment and the purchase of renewed equipment or operating theaters are factors that inhibit the market's growth. Also, it is expected that the increase in hospital investment, the development of new operating rooms, and the rise in investment in new hospital centers and outpatient surgery will drive future growth.

COVID-19 impact on the global operating room equipment market:

World Health Organization declared COVID 19 as a pandemic in March 2020. The operating room equipment market has led the shares during the pandemic period. In the first half of 2020, the market shares have seen a downfall due to lockdown and restrictions on the movement, but with the surging cases of the COVID 19, there is quite an increase in the patient’s flow hospitals with adverse effects. Most of the surgeries were either canceled or postponed as doctors are the front-line warriors in the fight against the COVID 19. With the government's unlock guidelines across the world, all the activities were resumed in the last months of 2020. However, the market shares to have significant shares by 2021.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Type, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report has been segmented and sub-segmented the global operating room equipment market based on type, end-user, and region.

Operating Room Equipment Market – By Type:

  • Anesthesia Machines
  • Electrosurgical Units
  • Multi-Parameter Patient Monitors
  • Surgical Imaging Devices
    • Mobile C-Arms
    • Mini C-Arms
  • Operating Room Lights
  • Operating Tables
    • General Operating Tables
    • Specialty Operating Tables

Based on Product Type, the operating room lights followed by Anesthesia machines types are expected to account for the majority of the share in the global market during the forecast period. Increasing focus on improving the quality of treatment procedures is fueling the growth of the market. Stringent rules and regulations by the government in approving the new products in concern towards patient’s safety is leveraging the demand of the market.

Operating Room Equipment Market – By End User:

  • Hospitals
  • Outpatient facilities

Based on End-User, the Hospitals sector is leading with the highest shares of the market. The rise in hospitals' construction activities to meet the public's requirements is spurring the market's demand. Also, increasing focus on adopting new technological developments in the medical sector elevates the demand of the market.

Operating Room Equipment Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

In terms of region, North America, with the United States and Canada, represented a large part of the world market in 2018. Contributions from Western European countries, such as the United Kingdom, Germany, France, and Italy, are responsible for Europe's largest market share. From the base of the population of patients of origin, that is, it is expected that older people (over 65 years old) will be leading the operating room equipment market in Europe during the forecast period.

It is expected that the Asia Pacific market will expand at an essential pace through the development of medical infrastructures and the strengthening of health care support for people. It is expected that other regions, such as the Middle East and Africa, and Latin America, will become a favorite for operating room equipment in the near future due to the rapid expansion of the medical devices industry and the high rate of adoption of advanced medical devices.

KEY MARKET PARTICIPANTS:

Companies that are playing a dominating role in the global operating room equipment market are STERIS Corporation, Stryker Corporation, Drägerwerk AG & Co. KGaA, Getinge Group, Medtronic, Inc., Hill-Rom Holdings, Inc., Mizuho OSI, GE Healthcare, Philips Healthcare, and KARL STORZ GmbH & Co. KG.

KEY HAPPENINGS IN THIS MARKET IN THE RECENT PAST:

On August 06, 2019, Hillrom agreed to acquire Breathe Technologies for USD 130 million, where Breathe developed a modular ventilator system for home and external settings.

On March 11, 2019, Hillrom announced that it had gained acquisition from Voalte, Inc., which advances the digital and mobile healthcare communication platform. 

On October 25, 2017, Mizuho OSI, a leading company in manufacturing unique surgical tables, has introduced its new technology, Levo Head Positioning System. This Levo System adds a new level of control and head positioning for allspice procedures from the cervical to the sacrum.  

On November 16, 2017, Trilux and Mizuho OSI will be together to showcase their full suite of (OR) Operating Room solutions, OR tables, and unique surgery tables and patient positioning solutions at MEDICA 2017.

On December 31, 2016, Mizuho OSI, a leading company in manufacturing unique surgical tables, recently fulfilled the urgent requirement of the surgical table at Le Bonheur Children’s Hospital in Memphis, Tennessee. The hospital's clinical business manager required another specialty surgery table for a complex, high-risk surgery to separate conjoined infant twin girls.

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